Swedegas TSO Sale Completed

Belgian and Spanish gas infrastructure companies, Fluxys and Enagas, said November 21 they have completed the sale of their joint venture, Swedegas, to FS Gas Transport.

The latter is an indirectly wholly-owned subsidiary of EDIF II, which is managed by Australia-based infrastructure fund First State Investments.

First State, which already owns the largest Swedish gas distribution network (which until April 2018 belonged to E.ON Gas Sverige), approached Fluxys and Enagas with an offer to purchase Swedegas.

Fluxys and Enagas, which each own a 50% stake in Swedegas, agreed to the offer in September and the transaction was closed November 21 upon the approval of the Swedish Competition Authority. Fluxys and Enagas were each paid Swedish krona 1,033 mn, around €100mn ($114mn) at the current exchange rate.